Make Kitco Your Homepage

Lennar sees improvement in buyer traffic in first quarter

Kitco News

(Reuters) - Lennar Corp (LEN.N) said it was seeing improvement in buyer traffic in the first quarter of fiscal year 2019 as interest rates begin to ease after climbing to multi-year highs in the past year.

The second largest U.S. homebuilder said it expects to deliver over 50,000 homes in the current year.

“With inventories low, we believe (a moderation of traffic in the fourth quarter) is a temporary adjustment as strong employment, wage growth, consumer confidence and economic growth drive the consumer to catch up,” Executive Chairman Stuart Miller said on a conference call.

The company’s shares rose 5 percent to $44.05 in morning trading.

Reporting by Ankit Ajmera in Bengaluru; Editing by James Emmanuel

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.